Utility Loses $2 Billion In One Year Trying To Make Obama’s Climate Agenda A Reality
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Title : Utility Loses $2 Billion In One Year Trying To Make Obama’s Climate Agenda A Reality
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Title : Utility Loses $2 Billion In One Year Trying To Make Obama’s Climate Agenda A Reality
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news-today.world | Southern Company reported a loss Wednesday of $1.38 billion in the second quarter of 2017, one year after it reported $623 million in profit for the second quarter of 2016, The Wall Street Journal reports.
The $2.003 billion difference is due almost entirely to a $2.8 billion pre-tax charge Southern Company took after its Mississippi Kemper plant failed as a “clean coal” energy source.
The $2.003 billion difference is due almost entirely to a $2.8 billion pre-tax charge Southern Company took after its Mississippi Kemper plant failed as a “clean coal” energy source.
The plant’s low-carbon, “breakthrough” technology was supposed to take coal and, through a process called gasification, combine it with oxygen and water to create synthetic gas and steam. The synthetic gas, or syngas, fuels a gas generator while the steam is collected and used to power a steam generator, according to Forbes.
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